June 2016 News

The Federal Budget for 2016/2017 has been wrapped up already, but the forthcoming federal election promises to put a stone in the shoe of those who think more changes aren't coming. Elections are full of different promises and policies, and if you are concerned for the future costs and efficiency of your health insurance, it's worth while to take a look at what the result could mean for your finances and health.

The Federal Budget is one of the most significant dates of not only the political calendar, but the financial one too. Every industry waits with bated breath to see if this is the year they see that much-needed funding boost, or if cuts will put a further strain on resources.

Understanding your private health insurance has long been a significant headache for Australians. Figuring out what you are covered for and, perhaps more importantly, what you aren't, can be a complex and time-consuming business for the average consumer.

With over 40,000 different kinds of private health cover available in Australia, it is understandable why it has become an important arena for the upcoming election.

The 40-hour working week has become a standard in Australia; five days a week, nine in the morning to five in the evening. It's become such a common idea that people often forget just how much time this is, particularly in regards to how it affects their health. Mankind never evolved to be sat at a desk for eight hours a day, after all. For 13 per cent of the population, that 40-hour week stretches to 50 or more, according to the OECD.

Irish playwright George Bernard Shaw was once quoted as saying "Youth is the most beautiful thing in this world - and what a pity that it has to be wasted on the children". This phrase has now entered common parlance, though a little more concisely: "Youth is wasted on the young". There might be a certain truth to it too, but it is perhaps more telling of the power of hindsight rather than the behaviour of young Australians.

When it comes to technological development, there is one particular law that is often quoted. Or rather, not a law, but a prediction. Moore's Law, developed by the eponymous Gordon E. Moore in the 1970s, to be exact. This concept in simple terms states that the overall processing power of a computer will double every two years.